Branding - Assignment Example

Chevron Corporation of the of the Table of Contents Table of Contents 2 Introduction 3 Chevron Corporation: Strengthsand Weaknesses 3 Clarity 3 Commitment 3 Protection 4 Responsiveness 4 Authenticity 4 Relevance 5 Differentiation 5 Consistency 5 Presence 6 Understanding 6 Conclusion 6 References 7 Introduction Chevron Corporation is not as popular in the British Columbia marketplace as London Drugs and West Jet as it is a more traditional corporation with major product offerings in the business to business market segment.

The other two brands operate in business to customer segment, which increase their brand visualization. Although brand exposure of Chevron is low, brand reach in the target segment is very high. Chevron as a brand is very traditional and operates in more than 20 countries in the world. It is not as interactive as London Drugs or West Jet, but is involved in multiple technology and community building programs that its customers are well aware of through traditional media platforms like, television and newspapers.

Chevron Corporation: Strengths and Weaknesses Clarity Chevron Corporation has been conducting business for more than 100 years since 1879 and over years, it has transformed from being a company working out of a single office to a global corporation (Chevron Corporation, 2014a). It has had numerous logos and brand names over the period of time, which has made a lasting impression on its customers and employees in a similar fashion. Presently, Chevron Corporation has come to stand for excellence and efficiency in the energy business.

The brand name gives a clear perspective to all its stakeholders about key drivers and goals that the company aspires to achieve. Commitment The vision statement of Chevron Corporation reads “to be the global energy company most admired for its people, partnership and performance” (Chevron Corporation, 2014b). In due course of time, the company has proved its commitment to the cause by becoming one of the front runners in the energy sector. It has around 10.7 billion barrels of crude oil reserves with 70 percent of them outside the United States.

The company employs more than 59000 employees and has retail outlets in more than 24000 sites around the globe (Chevron Corporation, 2014c). Protection The Chevron Corporation has protected its brand closely, even though a number of environmental and human issues have been pending against it. However, the brand has maintained its image through corporate social responsibility programs and fighting all lawsuits successfully worldwide. Chevron Corporation`s environment and development policy has helped to protect sanctity of the brand as well as enabled people connect with the company`s initiatives.

Thus, Chevron Corporation has successfully protected its brand in the backdrop of many controversies (Interbrand, 2014). Responsiveness The Chevron Corporation has evolved with time to become the global leader in energy business. With diminishing natural resources and increasing need to conserve the same, Chevron has moved to renewable resources of energy like, solar cells and geothermal energy. Chevron is the world`s leading producer of geothermal energy. Chevron is also working with institutions to improve efficiency of energy utilization.

Hence, Chevron has not only stayed in business for a long time, but also responded well to changing needs of the business environment (Chevron Corporation, 2014d). Authenticity The Chevron Corporation has been around to serve its customers for a long period of time. This has led to a great amount of trust and faith that its customers rest in the brand. Chevron has not only delivered on the promises made to its clients, but also improved response to changing business environment. So, the brand of Chevron stands for authenticity in services and products offered, which customers trust (Chevron Corporation, 2014a).

Relevance Chevron Corporation has transformed over time to suit needs of its clients. The company has expanded to more than 20 countries, where it stands as a symbol of trust and efficient business proposition. It has around 10.7 billion barrels of crude oil reserves with 70 percent of the reserves outside the United States. Chevron employs more than 59000 employees along with operating retail outlets in more than 24000 sites worldwide. The fact that it is successfully conducting business around the globe for a long period of time proves its relevance in different geographies and demography.

Differentiation Chevron Corporation has indulged in several corporate social responsibility initiatives, which has distinguished the brand from other oil companies for the consumers. Chevron has invested in local community building programs in places from where oil is sourced. The program includes schools, small businesses and renewable technology. Thus, such initiatives have created a distinct image for the company. Consistency Chevron Corporation has upheld all its commitments made to customers through superior product offerings as well as relevant technology changes.

It has always yielded consistent results, which can be judged through its sales figures and expansion history. Presence Chevron Corporation is more of a traditional company, which advertises in mostly visual media like, television and print media. It is not very active on social media platform, but its presence in most parts of the world makes it omnipresent. The superior service and reach of the brand ensures that customers’ needs across all regions of operation are satisfied. Understanding The target segment of Chevron Corporation is well aware of objectives and initiatives of the company, which are set in order to become a premier player in the global energy sector.

The continued interest in the company’s different brands by consumers for decades signifies that Chevron`s customers understand the brand and its significance. The customers endorse social work that the company does by continuously buying its products. Conclusion At present, Chevron Corporation informs its customers about products and services offered through conventional advertising mediums like, television and print. The company should improve its presence on the social media platform, which has a more interactive platform, where customers and the company can have a two way communication.

The customers can give their feedback about initiatives and products of the company and the company can also connect with multiple potential customers, in turn increasing the brand reach. Chevron can also make the brand more interactive through greater number of customer connect programs like, contests and forums on similar lines as that of London Drugs. References Chevron Corporation. (2014a). Company History. Retrieved from http://www.chevron.com/about/history/. Chevron Corporation. (2014b).

The Chevron Way. Retrieved from http://www.chevron.com/about/chevronway/. Chevron Corporation. (2014c). Our Businesses. Retrieved from http://www.chevron.com/about/ourbusiness/. Chevron Corporation. (2014d). Our Businesses. Retrieved from http://www.chevron.com/globalissues/emergingenergy/ Interbrand. (2014). Brand Strength. Retrieved from http://www.interbrand.com/en/BestRetailBrands/Brand-Strength.aspx.